OSR prices follow Chicago down

UK rapeseed prices fell £4/t over last week for deliveries between now and March, during a quiet last week of trading before the Christmas holiday.

Falling oil prices on the Chicago market were the main reason for this fall, and this had a knock-on effect on European prices, said a spokesman from the Home-Grown Cereals Authority.

The French MATIF rapeseed futures were also unable to sustain their values dropping DM4-8/t.

Ex-farm spot prices slipped back to about £157.77/t and a return to £160/t seems unlikely in the near future. Delivered prices also slipped falling to £164.33/t and futures prices also eased £4 for January deliveries to £166.33 while April deliveries fell back at £169/t.

International oilseed prices were generally down last week due to the improved growing conditions in South America, noted a spokesman from the HGCA. “This was emphasised by another significant drop in soyaoil prices, falling over $20/t last week,” he said.

Bigger than forecast global veg supplies and only small interest are pressurising international oil and seed prices.